SC reserves verdict on Jaganmohan Reddy
The Supreme Court today reserved its verdict on whether Jagan Mohan Reddy should be granted bail in...
The Supreme Court today reserved its verdict on whether Jagan Mohan Reddy should be granted bail in disproportionate assets case. He will have to stay in jail for now. The YSR Congress chief will completing one year in jail on May 27 after he was arrested in Hyderabad. The apex court had directed the Central Bureau of Investigation (CBI) to file an affidavit on the matter by May 6 to explain why Reddy should not be granted bail. The CBI is investigating the allegation that Jaganmohan received these benefits when his father, the late YS Rajasekhara Reddy (YSR), was CM, from 2004 to 2009. It took up the case on the orders of the Andhra Pradesh high court.
The CBI says that when YS Rajashekhara Reddy was the chief minister of Andhra Pradesh, he had pressured companies to invest in his son's vast business empire.YSR allegedly gave them licenses and clearances necessary for their own companies. YSR died in a helicopter crash in September 2009.